Nucor Corporation $NUE Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in Nucor Corporation (NYSE:NUE) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 108,309 shares of the basic materials company’s stock after selling 20,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Nucor were worth $14,668,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NUE. Hudson Capital Management LLC lifted its holdings in shares of Nucor by 6.6% in the 2nd quarter. Hudson Capital Management LLC now owns 34,784 shares of the basic materials company’s stock valued at $4,506,000 after buying an additional 2,154 shares during the period. Fidelis Capital Partners LLC acquired a new position in Nucor in the second quarter valued at approximately $236,000. Oppenheimer Asset Management Inc. purchased a new stake in Nucor in the 2nd quarter worth approximately $5,225,000. Allstate Corp purchased a new stake in Nucor in the 3rd quarter worth approximately $1,085,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Nucor by 11.7% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 135,065 shares of the basic materials company’s stock worth $17,496,000 after purchasing an additional 14,106 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group increased their target price on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Jefferies Financial Group raised their target price on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, January 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Finally, BNP Paribas Exane raised their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.36.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at $2,967,106.56. The trade was a 10.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 5,950 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $157.89, for a total transaction of $939,445.50. Following the completion of the sale, the executive vice president owned 67,711 shares of the company’s stock, valued at $10,690,889.79. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,950 shares of company stock valued at $2,319,166 in the last 90 days. 0.71% of the stock is owned by insiders.

Nucor Trading Up 1.9%

Shares of Nucor stock opened at $181.03 on Tuesday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $183.32. The firm has a market capitalization of $41.43 billion, a PE ratio of 24.01, a P/E/G ratio of 0.97 and a beta of 1.86. The firm’s 50-day moving average price is $166.99 and its 200 day moving average price is $151.07.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.55. Nucor’s payout ratio is 29.71%.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.